professional corporation

professional corporation
professional corporation see corporation

Merriam-Webster’s Dictionary of Law. . 1996.

professional corporation
A type of corporation authorized by state law for a fairly narrow list of licensed professions, including lawyers, doctors, accountants, many types of higher-level health providers, and sometimes architects. A professional corporation does not free an owner from personal liability for his or her own negligence or malpractice, but owners are not personally liable for the malpractice of other owners. In some states, limited liability partnerships offer this same benefit and may be more desirable for other reasons.
Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.

Nolo’s Plain-English Law Dictionary. . 2009.

professional corporation
USA
A form of corporation authorized by state statute for a specified list of licensed professions, such as doctors and lawyers.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

professional corporation
n.
   a corporation formed for the purpose of conducting a profession which requires a license to practice, including attorneys, physicians, dentists, certified public accountants, architects and real estate brokers. Most states provide for such corporations under special statutes which allow the corporation to operate with a single director, who is a professional. However, unlike other corporations, the organization does not provide a shield for liability for any professional negligence (malpractice) by the licensed professionals.
   See also: corporation

Law dictionary. . 2013.

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